What are the Social Effects of Insurance?

Insurance provides people from all walks of life and businesses a form of safety net and security. Because it offers protection it makes people feel safe and secure from loss and illness as well. It benefits apply to so many

What is Indemnification in Insurance?

Business owners and employees alike often make the smart choice and find it worth the premiums that must be paid to carry Indemnity Insurance. Indemnity Insurance is a form of protection that safeguards employers against errors in a workplace or

The Legal Issues of Insurance

Legal issues can arise with any type of insurance; however, in the majority of cases, the issues involve vehicle and homeowner’s insurance more than other types of insurance. When you are involved in a vehicle accident and you were responsible,

What are the Principles of Insurance?

There are seven principles that are followed by all insurance companies, which include Principle of Utmost Good Faith, Principle of Insurable Interest, Principle of Indemnity, Principle of Contribution, Principle of Subrogation, Principle of Loss Minimization, and Principle of Nearest Cause.

Old Age Pensions by Otto Von Bismark

When you think about old age pensions, you more than likely wonder how they came to be and how retirement benefits were invented. The first pensions were often determined on the life expectancy of the individual. Otto Von Bismark who

National Insurance Act of 1911

The National Insurance Act of 1911 was inspired by a visit by the Chancellor of the Exchequer, David Lloyd George to Germany in 1908 where the country provided compulsory national insurance since 1884 against sickness. In the Chancellor’s speech in

Who was Edward Rowe Mores?

Edward Rowe Mores was a scholar and antiquarian who produced works in typography and history. He was also one of the key individuals in establishing The Society for Equitable Assurances on Lives and survivorships. Today, the society is referred to

When was a Life Insurance Policy used First?

It may be hard to believe, but life insurance can be traced back to Caius Marius in ancient Rome in 100 B.C. He was a military leader that established a burial group for his troops so in the case of

Who was Nicholas Barbon?

Nicholas Barbon was born between 1637 and 1640 and was the first son born to Praise God Barebone/Barbon. He was a financial speculator, physician, and economist who had a number of critics due to his involvement in the beginning of

What is Underwriting?

More than likely, you know there are things going on behind the scenes when you buy a home and one of these things is known as underwriting. The problem is that many of us, do not actually know what this